What does the date of booking in Form 26AS mean?

The booking date of Form 26AS is the date on which the TDS return amount is booked on the form after processing returns. As a result, this is a date after filing TDS returns.

How to download Form 26AS in Excel format?

If you want to download the form in Excel format, login to the e-filing portal, select 'e-file', 'Income Tax Returns', 'View Tax Credit', the relevant assessment year, 'View Type' as Excel and then 'View/Download'.

When will TDS be reflected in Form 26AS?

TDS deduction reflects on Form 26AS after the deductee files the TDS return. Notably, it reflects after CPC (Central Processing Centre) processes it which is around 7 days after TDS return filing.

What is the password to access Form 26AS PDF?

As a taxpayer, you can access the PDF version of the form using the date of birth or date of incorporation in DDMMYYYY format. Ensure you enter the correct digits without any space to open it seamlessly.

How can I rectify discrepancies in Form 26AS?

As a taxpayer, if you identify discrepancies in the form, you need to inform the deductor. Ensure you ask them to rectify the errors in a revised TDS return.

Form 26AS of the Income Tax Department: Details Covered, Format & More

The Form 26AS is a crucial document issued by the Income Tax Department of India, outlining details of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) linked to a taxpayer’s PAN card. While it helps track tax deductions and collections, it is not the same as a TDS certificate that presents an individual’s salary. Understanding this form is essential for accurate and transparent Income Tax Return (ITR) filing.

What Is Form 26AS?

Form 26AS is an annual statement maintained by the Income Tax Department of India. It includes all tax-related details of a taxpayer, such as TDS, TCS, self-assessment tax payments, high-value taxable transactions and advance tax payments.

In addition, the form includes details pertaining to mutual fund investments, refunds, foreign remittances, income from other sources, dividend income and others. This form enables taxpayers to monitor tax deductions and deposits made to the Income Tax Department. It further highlights outstanding tax proceedings and specific financial transactions (SFT).

Details on Form 26AS

Here are the details that you can find on Form 26AS:

Tax deducted at the source
Tax collected at the source
Advance tax payment by taxpayers
Regular assessment tax that taxpayers deposit based on their PAN card number
Self-assessment tax payments
An income tax refund that a taxpayer receives during a specific financial year
High-value transaction details pertaining to mutual funds and shares
Tax deduction on the sale of immovable property
TDS defaults after TDS return processing during a particular financial year
Turnover details as per GSTR-3B
Specified financial transactions
Outstanding and completed income tax payments

Latest Form 26AS Format

The latest format and structure of Form 26AS came into effect from the financial year 2022-23. Here are the different parts of the form:

Part	Inclusion	Details	Contact Person/Entity for Clarification
Part I	Tax Deducted at Source	TDS on business, salary, profession, interest income and others	Deductor
Part II	Information on Tax Deducted at Source for Form 15G/15H	Cases of no TDS deduction, as Form 15G/15H, have been submitted due to income being lower than the exemption limit.	Deductor
Part III	Transaction details under Proviso to Section 194B/ First Proviso to Section 194R(1)/ Proviso to Section 194S(1)	TDS on payment made in kind and not cash, such as a vehicle in a lottery, international trips for meeting sales targets and others.	Deductor
Part IV	TDS deduction under Sections 194IA/ 194IB/ 194M/ 194S for sellers, property landlords, professionals, contractors or sellers of virtual digital assets	TDS deduction on house property sale or rent payment over ₹50,000 per month, payment to a contractor/professional above ₹50 lakhs, or sale of a virtual digital asset in cryptocurrency	Deductor
Part V	Transactions under Proviso to Section 194S(1) as per Form 26QE	Applicable for virtual digital asset sellers	Purchaser
Part VI	Tax collected at source	TCS under Section 206C	Collector
Part VII	Paid refund	Source is CPC TDS; you can refer to AIS for additional details on the e-filing portal.	Bank/ Assessing Officer
Part VIII	TDS deductions under Sections 194IA/ 194IB/ 194M/ 194S for the buyer or tenant of property, individuals paying contractors or professionals or the buyer of virtual digital assets	TDS associated with the purchase of house property or rental payment above ₹50,000 per month, or payment made to a contractor/ professional services above ₹50 lakhs/ purchase of cryptocurrency, which are virtual digital assets	E-filing/ NSDL/ Respective Bank Branch
Part IX	Transactions or demand payments under Proviso to Section 194S(1) as per Form 26QE	For virtual digital asset buyers	Bank Branch/ E-filing/ Seller
Part X	TDS or TCS default	The value of TDS defaults after TDS returns are processed, excluding demands raised by the assessing officer	Deductor

Previous Structure of Form 26AS

The previous structure of Form 26AS was applicable till the financial year 2021-22. Here are the different parts of the form available earlier:

Parts	Inclusion	Details	Contact Person/Entity for Clarification
Part A	Tax deducted at Source	TDS deduction from salary, pension and interest income, and prize, TAN of the deductor, TDS amount deducted and paid to the government per quarter	Deductor
Part A1	Tax Deducted at Source for Form 15G/15H	Income details for no TDS deduction due to submission of Form 15G/15H; in case these forms are not submitted it will show ‘No Transactions Present’	Deductor
Part A2	Tax Deducted at Source on immovable property sale under Section 194(IA), TDS on property rent under Section 194IB, TDS on payments to professionals and resident contractors under Section 194M for property landlord, sellers, professionals and payee of resident contractors.	If TDS has been deducted on payment to contractual or professional service or sale of property during a financial year, it is reflected in this section.	Deductor
Part B	Tax Collected at Source	Sellers’ details of TCS	Collector
Part C	Tax paid excluding TCS and TDS	Details pertaining to advance tax payment, self-assessment tax, challan such as BSR code, date of deposit, CIN	Bank or Assessing Officer
Part D	Refund paid	The refund amount in addition to payment mode, amount paid, payment date, interest payment	ITR-CPC or Assessing Officer
Part E	Specified Financial Transaction	High-value transactions to tax authorities reported by banks and financial institutions pertaining to property purchases, mutual funds, corporate bonds and others	AIR filer
Part F	TDS on immovable property sale under Section 194(IA), property rent under Section 194IB, payment to professionals and resident contractors under Section 194M for buyers, property tenants, the payer of resident contractors and professionals	TDS on professional fees to contractual or professional services, rent paid and purchase of property	NSDL or Bank Branch
Part G	TDS default	TDS defaults excluding demands raised by the concerned assessing officer	TAN holder
Part H	Turnover in accordance with GSTR-3B	Turnover value of the taxpayer as reported in GSTR-3B return	-

Process to View Form 26AS

You can view this form in the following portals:

Using TRACES
On the Income Tax Department’s e-filing portal
Using the net banking facility of banks

Process to Download Form 26AS from TRACES

Here is the process for Form 26AS download online:

Step 1: Navigate to the e-filing portal.

Step 2: Enter a valid user ID like PAN or Aadhaar number and password. Notably, you will receive a screen notification in case of an invalid user ID.

Step 3: Go to the 'e-filing' option and select 'Income Tax Returns' before you choose 'View Form 26AS' from the drop-down list.

Step 4: Click on ‘Confirm’ to be redirected to the TRACES portal.

Step 5: Choose the checkbox on the screen of the portal and click ‘Proceed’.

Step 6: Click on ‘View Tax Credit (Form 26AS)’.

Step 7: Select the assessment year and the format of the form as HTML or PDF for online viewing or PDF download.

Step 8: Fill in the verification code and click ‘View/Download’.

Step 9: On download completion, you can open and view the form.

Procedure to View Form 26AS Using Net Banking

Here is the list of NSDL-registered banks which allow PAN-linked account holders to check this form using the net banking facility:

Axis Bank Limited
ICICI Bank Limited
Kotak Mahindra Bank Limited
State Bank of India
Bank of Maharashtra
Bank of India
Bank of Baroda
Corporation Bank
Citibank N.A
City Union Bank Limited
IDBI Bank Limited
Indian Bank
Indian Overseas Bank
Karnataka Bank
Oriental Bank of Commerce
State Bank of Mysore
The Federal Bank Limited
State Bank of Patiala
The Saraswat Co-operative Bank Limited
State Bank of Travancore
Union Bank of India
UCO Bank

Advantages of Form 26AS

Here are the benefits of referring to Form 26AS:

You can avail information about TDS and TCS deposited with the government/tax authorities after deduction and collection.
As a taxpayer, you can get information pertaining to all financial transactions during a particular year apart from TDS and TCS deduction or collection.
This form helps compute annual income and avail tax credits when you file an Income Tax Return (ITR).
As a taxpayer, you can verify the tax refunds during a financial year.

Annual Information Statement (AIS) Introduction

AIS, introduced by the tax department, provides details pertaining to off-market transactions, foreign remittances, interest on income tax refunds, dividends, mutual fund purchases, salary break-up and ITR details.

Authorised dealers need to submit necessary details like Form 15CC for payments to non-resident Indians, depositories and transfer agents. Off-market transactions include legacy transfers, gift transfers and transfers between two demat accounts.

Form 16 additionally provides salary details which employers upload on the TRACES portal. In addition, transactions made by a taxpayer are available on their ITR.

Benefits of AIS

Here are the benefits of AIS:

Tax authorities can seamlessly compare the details that a taxpayer reports.
It helps identify mismatches without any hassle.
This prevents incidents of tax evasion and notice issuance by the Income Tax Department.

Discrepancies Between Form 26AS and AIS

If information is presented accurately, Form 26AS should match with AIS. However, in case of discrepancies the following rules apply:

The information available on Form 26AS will be considered.
A lack of adequate information by the taxpayer will result in the prevalence of Form 26AS.
Verification of information for the mentioned documents is essential.

Form 16/16A Vs Form 26AS

Here are the differences between Form 16/ 16A and Form 26AS:

Form 16/16A (TDS Certificate)	Form 26AS
The TDS deductor or TCS collector needs to issue this form as proof of depositing the deducted or collected tax with the government for the concerned PAN number.	This form is essential for ITR filing as it allows taxpayers to verify details with a TDS certificate and ensure transparency.
It includes details of salary and deductions under Section 80C to 80U.	This form does not include deductions under Section 80C to 80U and salary break-up.
You need a TDS certificate even if you have Form 26AS to compare the tax details for ITR filing.	Form 26AS is for the Income Tax Department’s reference.

Verifying TDS Certificate with Form 26AS

You need to verify Form 26 AS with Form 16 for salaried individuals and Form 16A for non-salaried individuals based on the following factors:

Name, PAN number, TAN of the deductor, amount of TDS and refund amount
Check if the TDS amount deducted (as reflected on the TDS certificate) matches with Form 26AS to ensure the deductions are deposited with the government.
In case the TDS deduction amount does not reflect on Form 26AS, it indicates the amount has not been deposited with the tax authorities. You need to contact the deductor without delay in such a scenario for rectification.

Final Word

Form 26AS significantly differs from Form 16/16A as the former does not reflect salary break-up and deductions under Sections 80C to 80U. However, you need both forms to check if the tax deductor or collector has deposited the collected or deducted amount with the government tax authorities. It ensures transparency and tax compliance for individuals with the Indian income tax laws.

If your annual income is below the taxable limit, ensure you submit Form 15G/15H at banks to avoid TDS deduction on fixed deposit interest income which is reflected on Form 26AS. Notably, you can maximise your fixed deposit (FD) interest income by booking multiple fixed deposits with Stable Money at up to 9.10% per annum.